Doha, Qatar (BBN)- The Council of the Islamic Financial Services Board (IFSB) has resolved to admit seven organisations into the IFSB membership, an official announcement said on Monday.
Three supervisory authorities, one financial institution and three professional firms have been admitted as associate and observer members. Three members from the Republic of Turkey, which are currently associate members, have been upgraded to full members, namely the Central Bank of the Republic of Turkey, Banking Regulation and Supervision Agency and Capital Markets Board of Turkey.
The 22nd meeting of the IFSB Council, hosted by Qatar Central Bank, was held on April 7 at the Grand Hyatt Doha in Qatar. It was chaired by the Governor of Qatar Central Bank, Sheikh Abdulla Saoud Al-Thani, and attended by 10 Governors, 6 governors’ representatives from among the IFSB Council members, as well as the president of the Islamic Development Bank.
The newly admitted associate members are Indonesia Deposit Insurance Corporation, Indonesia, BanqueCentrale Des Etats de L’afrique de L’ouest, Senegal (Central Bank of West African States), and Central Bank of Tunisia, Tunisia.
Other four observer members are SAB, France, Finance Accreditation Agency Berhad, Malaysia, RAM Rating Services Berhad, Malaysia and Fajr Capital Limited, UAE.
The 187 members of the IFSB comprise 57 supervisory and regulatory authorities from the banking, capital markets and Islamic insurance (takaful) sectors in 43 jurisdictions, as well as eight international inter-governmental organisations, and 122 market players (financial institutions, professional firms and industry associations).
BBN/SSR/AD-09Apr13-1:03 pm (BST)
